AAR Corp. $AIR Shares Acquired by Fred Alger Management LLC

Fred Alger Management LLC lifted its stake in AAR Corp. (NYSE:AIR) by 4.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 694,402 shares of the aerospace company’s stock after buying an additional 29,251 shares during the period. Fred Alger Management LLC owned approximately 1.78% of AAR worth $62,267,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Osterweis Capital Management Inc. acquired a new position in AAR in the second quarter valued at $26,000. Salomon & Ludwin LLC acquired a new stake in shares of AAR during the third quarter worth about $30,000. Optiver Holding B.V. purchased a new stake in shares of AAR in the 3rd quarter valued at about $31,000. Westfuller Advisors LLC purchased a new stake in shares of AAR in the 3rd quarter valued at about $39,000. Finally, Banque Cantonale Vaudoise purchased a new position in AAR during the 3rd quarter worth approximately $46,000. 90.74% of the stock is currently owned by institutional investors and hedge funds.

AAR Trading Down 1.8%

Shares of AIR stock opened at $101.92 on Monday. The company has a market capitalization of $4.03 billion, a P/E ratio of 39.97 and a beta of 1.19. The company has a current ratio of 2.84, a quick ratio of 1.31 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $108.04 and its two-hundred day moving average is $90.83. AAR Corp. has a twelve month low of $46.51 and a twelve month high of $121.64.

AAR (NYSE:AIR) last released its quarterly earnings results on Tuesday, January 6th. The aerospace company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.02 by $0.16. AAR had a return on equity of 12.40% and a net margin of 3.17%.The business had revenue of $795.30 million during the quarter, compared to analysts’ expectations of $760.95 million. During the same quarter in the prior year, the business earned $0.90 earnings per share. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities analysts forecast that AAR Corp. will post 3.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Zacks Research upgraded AAR from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. Truist Financial reaffirmed a “buy” rating and issued a $128.00 target price (up from $107.00) on shares of AAR in a report on Friday, March 6th. Wall Street Zen upgraded shares of AAR from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. The Goldman Sachs Group assumed coverage on shares of AAR in a research note on Monday, January 26th. They set a “neutral” rating and a $121.00 price target for the company. Finally, KeyCorp raised their price objective on shares of AAR from $93.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $119.60.

Insider Activity

In other news, SVP Christopher A. Jessup sold 23,621 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $97.05, for a total value of $2,292,418.05. Following the completion of the sale, the senior vice president owned 65,769 shares in the company, valued at approximately $6,382,881.45. This trade represents a 26.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jessica A. Garascia sold 4,787 shares of AAR stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $95.25, for a total transaction of $455,961.75. Following the completion of the sale, the chief accounting officer directly owned 29,557 shares in the company, valued at approximately $2,815,304.25. The trade was a 13.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 128,984 shares of company stock valued at $12,517,090. 3.60% of the stock is owned by corporate insiders.

About AAR

AAR Corp. (NYSE: AIR) is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.

In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.